Managers / Q1 2024 · view latest →
CULLEN/FROST BANKERS, INC.
CIK 0000039263 · 111 W HOUSTON ST, SAN ANTONIO, TX, 78205 · 210-220-4011
Reported Value
$6.7B
Q1 2024
Positions
1,006
Filings on Record
30
2019–present window
Filed
May 10, 2024
original filing
Summary
Cullen/Frost Bankers, Inc. reported $6.7B in U.S.-listed holdings across 1,006 positions for Q1 2024.
Its largest position, MSFT, represents 6.0% of the portfolio.
Compared with Q4 2023, the fund opened 106 new positions and exited 115.
Portfolio Metrics
Turnover
+4.3%
vs prior filed quarter
Top-10 Concentration
+27.1%
share of reported value
Largest Position
+6.0%
Microsoft Corp Com
New / Exited
106 / 115
positions this quarter
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
13F Reported Value
Portfolio Composition
By security type
- Common Stock · 69.7% · $4.7B
- ETP · 26.1% · $1.8B
- Other · 2.3% · $153M
- REIT · 0.9% · $60M
- ADR · 0.8% · $56M
- Other · 0.2% · $11M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| RUNRUSH ENTERPRISES INC CL B | NEW | +147.0K | 147.0K | +$8M | $8M |
| KVUEKENVUE INC COM | NEW | +260.8K | 260.8K | +$6M | $6M |
| TEAM1EURATLASSIAN CORPORATION CL A | NEW | +28.6K | 28.6K | +$6M | $6M |
| CNH INDL N V SHS | NEW | +56.8K | 56.8K | +$736,400 | $736,400 |
| HASHASBRO INC COM | NEW | +12.6K | 12.6K | +$710,230 | $710,230 |
| IFFINTERNATIONAL FLAVORS&FRAGRA COM | NEW | +8.2K | 8.2K | +$705,978 | $705,978 |
| CPAYCORPAY INC COM SHS ADDED | NEW | +1.8K | 1.8K | +$554,755 | $554,755 |
| DXCDXC TECHNOLOGY CO COM | NEW | +25.0K | 25.0K | +$531,162 | $531,162 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2024
49 positions
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | MSFTMICROSOFT CORP COMhistory → | DOMESTIC COMMON STOCK | 6.00% | $405M | 963.0K |
| 2 | AAPLAPPLE INC COMhistory → | DOMESTIC COMMON STOCK | 5.06% | $341M | 1.99M |
| 3 | VUGVANGUARD INDEX FDS GROWTH ETFhistory → | DOMESTIC LARGE CAP FUND-ETF | 2.82% | $190M | 553.0K |
| 4 | GOOGLALPHABET INC CAP STK CL A | DOMESTIC COMMON STOCK | 2.77% | $187M | 1.23M |
| 5 | AMZNAMAZON COM INC COMhistory → | DOMESTIC COMMON STOCK | 2.72% | $184M | 1.02M |
| 6 | ISHARES TR RUS 1000 GRW ETF | DOMESTIC LARGE CAP FUND-ETF | 2.13% | $144M | 427.3K |
| 7 | NVDANVIDIA CORPORATION COMhistory → | DOMESTIC COMMON STOCK | 2.06% | $139M | 153.5K |
| 8 | ISHARES TR MSCI EAFE ETF | INTL DEVELOPED MKTS FUND-ETF | 1.76% | $119M | 1.49M |
| 9 | VANGUARD INDEX FDS MID CAP ETF | DOMESTIC MID CAP FUND-ETF | 1.53% | $103M | 413.1K |
| 10 | SCHWAB STRATEGIC TR US DIVIDEND EQ | DOMESTIC LARGE CAP FUND-ETF | 1.51% | $102M | 1.26M |
| 11 | SPDR S&P 500 ETF TR TR UNIT | DOMESTIC LARGE CAP FUND-ETF | 1.50% | $101M | 193.7K |
| 12 | VVISA INC COM CL Ahistory → | DOMESTIC COMMON STOCK | 1.48% | $100M | 357.2K |
| 13 | ISHARES TR 20 YR TR BD ETF | DOMESTIC TAXABLE INVT GRADE-ETF | 1.27% | $86M | 906.3K |
| 14 | ISHARES TR RUS MD CP GR ETF | DOMESTIC MID CAP FUND-ETF | 1.25% | $84M | 736.9K |
| 15 | VANGUARD INDEX FDS SMALL CP ETF | DOMESTIC SMALL CAP FUND-ETF | 1.24% | $83M | 364.8K |
| 16 | MAMASTERCARD INCORPORATED CL Ahistory → | DOMESTIC COMMON STOCK | 1.23% | $83M | 172.3K |
| 17 | HDHOME DEPOT INC COMhistory → | DOMESTIC COMMON STOCK | 1.22% | $83M | 215.2K |
| 18 | ISHARES TR S&P MC 400VL ETF | DOMESTIC MID CAP FUND-ETF | 1.21% | $82M | 690.5K |
| 19 | LLYELI LILLY & CO COMhistory → | DOMESTIC COMMON STOCK | 1.20% | $81M | 104.2K |
| 20 | JPMJPMORGAN CHASE & CO COMhistory → | DOMESTIC COMMON STOCK | 1.19% | $81M | 401.9K |
| 21 | FLEXSHARES TR MORNSTAR UPSTR | DOMESTIC SECTOR FUND-ETF | 1.18% | $80M | 1.94M |
| 22 | METAMETA PLATFORMS INC CL Ahistory → | DOMESTIC COMMON STOCK | 1.13% | $76M | 156.8K |
| 23 | COSTCOSTCO WHSL CORP NEW COMhistory → | DOMESTIC COMMON STOCK | 1.09% | $74M | 100.5K |
| 24 | CHVCHEVRON CORP NEW COMhistory → | DOMESTIC COMMON STOCK | 1.09% | $73M | 465.3K |
| 25 | ABBVABBVIE INC COMhistory → | DOMESTIC COMMON STOCK | 0.99% | $67M | 367.6K |
| 26 | ISHARES TR RUS 1000 VAL ETF | DOMESTIC LARGE CAP FUND-ETF | 0.87% | $59M | 329.0K |
| 27 | BRK/BBERKSHIRE HATHAWAY INC DEL CL B NEWhistory → | DOMESTIC COMMON STOCK | 0.84% | $57M | 134.7K |
| 28 | JNJJOHNSON & JOHNSON COMhistory → | DOMESTIC COMMON STOCK | 0.80% | $54M | 342.4K |
| 29 | UNHUNITEDHEALTH GROUP INC COMhistory → | DOMESTIC COMMON STOCK | 0.79% | $54M | 108.4K |
| 30 | NOWSERVICENOW INC COMhistory → | DOMESTIC COMMON STOCK | 0.78% | $53M | 69.3K |
| 31 | UNPUNION PAC CORP COMhistory → | DOMESTIC COMMON STOCK | 0.74% | $50M | 204.0K |
| 32 | EXMOCEXXON MOBIL CORP COMhistory → | DOMESTIC COMMON STOCK | 0.74% | $50M | 428.4K |
| 33 | VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF | INTL EMERGING MKTS FUND-ETF | 0.67% | $45M | 1.09M |
| 34 | AVGOBROADCOM INC COMhistory → | DOMESTIC COMMON STOCK | 0.66% | $44M | 33.4K |
| 35 | MRKMERCK & CO INC COMhistory → | DOMESTIC COMMON STOCK | 0.64% | $43M | 327.5K |
| 36 | EATON CORP PLC SHS | INTL COMMON STOCK | 0.64% | $43M | 138.0K |
| 37 | KOCOCA COLA CO COMhistory → | DOMESTIC COMMON STOCK | 0.63% | $42M | 692.5K |
| 38 | PGPROCTER AND GAMBLE CO COMhistory → | DOMESTIC COMMON STOCK | 0.59% | $40M | 244.4K |
| 39 | QCOMQUALCOMM INC COMhistory → | DOMESTIC COMMON STOCK | 0.57% | $39M | 228.1K |
| 40 | ISHARES TR CORE US AGGBD ET | DOMESTIC TAXABLE INVT GRADE-ETF | 0.56% | $38M | 387.8K |
| 41 | DHRDANAHER CORPORATION COMhistory → | DOMESTIC COMMON STOCK | 0.54% | $36M | 145.7K |
| 42 | LOWLOWES COS INC COMhistory → | DOMESTIC COMMON STOCK | 0.53% | $36M | 140.4K |
| 43 | CMGCHIPOTLE MEXICAN GRILL INC COMhistory → | DOMESTIC COMMON STOCK | 0.52% | $35M | 12.1K |
| 44 | ISHARES TR COHEN STEER REIT | DOMESTIC SECTOR FUND-ETF | 0.52% | $35M | 603.9K |
| 45 | HONGBPHONEYWELL INTL INC COMhistory → | DOMESTIC COMMON STOCK | 0.51% | $34M | 167.0K |
| 46 | GLTRABRDN PRECIOUS METALS BASKET PHYSCL PRECS METhistory → | DOMESTIC ACS FUND-ETF | 0.51% | $34M | 357.3K |
| 47 | SBUXSTARBUCKS CORP COMhistory → | DOMESTIC COMMON STOCK | 0.50% | $34M | 370.7K |
| 48 | AXPAMERICAN EXPRESS CO COMhistory → | DOMESTIC COMMON STOCK | 0.49% | $33M | 146.3K |
| 49 | CPCANADIAN PACIFIC KANSAS CITY COMhistory → | INTL COMMON STOCK | 0.49% | $33M | 375.8K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $8.8B | 1,393 | May 5, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $9.1B | 1,460 | Feb 6, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $8.6B | 1,321 | Oct 31, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $8.0B | 1,298 | Jul 30, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $7.1B | 1,285 | May 2, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $7.3B | 1,348 | Feb 6, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $7.3B | 1,216 | Nov 6, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $6.9B | 1,241 | Aug 5, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $6.7B | 1,006 | May 10, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $6.4B | 1,011 | Feb 6, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $5.7B | 1,151 | Nov 2, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $5.9B | 1,123 | Aug 4, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $5.5B | 1,197 | May 5, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $5.2B | 1,106 | Feb 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $4.4B | 1,179 | Nov 7, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $4.5B | 1,064 | Aug 5, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $5.1B | 1,208 | May 9, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $5.3B | 1,241 | Feb 7, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $5.0B | 1,342 | Nov 4, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $5.0B | 1,362 | Aug 5, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $4.6B | 1,225 | May 5, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $4.3B | 1,212 | Feb 8, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $4.0B | 1,337 | Nov 5, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $3.8B | 1,243 | Aug 5, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $2.9B | 1,275 | May 1, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $3.7B | 1,428 | Feb 6, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $3.4B | 1,379 | Nov 1, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $3.2B | 1,397 | Aug 1, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $3.3B | 1,353 | Apr 30, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $2.7B | 671 | Feb 6, 2019 | 13F-HR | changes · EDGAR ↗ |
Other Included Managers
This filing reports holdings on behalf of 3 additional managers.
- Frost Bank - FWA
- Frost Investment Advisors, LLC
- Frost Investment Services, LLC
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.